Renault in talks with JSW for India partnership as Nissan ties unwind: Report
Renault
SA is in early talks with
JSW
Group for a potential joint venture in India, Bloomberg reported, quoting people familiar with the matter, as the French carmaker looks to strengthen its position in one of the world's fastest-growing auto markets while restructuring ties with longtime partner
Nissan
Motor Co.
The discussions, which remain private and may not result in a deal, are part of Renault's broader strategy to deepen its independent operations in India. The company is in the final stages of acquiring Nissan's stake in their jointly owned plant in Chennai, marking a key step in a deal announced in March to reduce cross-shareholding between the two automakers to 10% from 15%.
JSW Group, led by billionaire Sajjan Jindal, is already active in the automotive space. It owns a 35% stake in MG Motor India Pvt. through a joint venture with China's SAIC Motor Corp. The conglomerate has broader interests across steel, infrastructure, energy, and electric mobility, and is reportedly seeking to expand its footprint in the electric vehicle segment through new partnerships.
Renault sold approximately 38,000 vehicles in India in the financial year ending March 31, representing less than 1% of the country's passenger vehicle market. Despite the modest share, the company has maintained a presence with models like the Kwid hatchback and the Triber MPV, and exports to several African and Asia-Pacific markets from its Indian plant.
The French automaker has historically preferred joint ventures for its India operations, starting with Mahindra & Mahindra Ltd., followed by Nissan. The ongoing talks with JSW reflect this pattern of shared ownership in a highly competitive automotive landscape.
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Renault has recently opened its largest global design studio outside France at its Chennai technology center. According to the Bloomberg report, the company may finalize its partnership strategy in India after naming a successor to outgoing CEO Luca de Meo, who has focused on improving profitability and expanding into emerging markets.
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